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feeling. >> i can't wait to see you in new york. start that race together and give you a big hug at the finish line. >> sounds good. can't wait to see you. >> if you want to follow along with me or any members of the six-pack, logon to thanks for being with us this morning. time now to get you back into the cnn newsroom for a check of our big stories. >>> this from the cnn center in atlanta, georgia, this is your saturday morning, k a.m. eastern time and i'm t.j. holmes. two developing stories. first the president summoning congressional leaders back to the white house for a saturday morning conference. this comes the day after the house speaker, john boehner walked out on debt talks. the president calling them right back. >>> also the developing story out of norway where at least 91 people have been killed in two separate attacks in norway. police there say these two attacks are, in fact, linked. still a developing story. we'll have the very latest for you live in just a moment. we need to begin in washington, d.c. with that looming deadline on the nation's debt.
finally came out publicly with a bipartisan, big, tough plan, a framework for how to deal with our very real challenge with our record deficits and debt. it's my hope that the senate will consider cut, cap and be balance, defeat it and then put a responsible plan on the floor, one that shares the sacrifice across all the areas of our budget and that puts forward the kind of framework that everyone can support. bill: okay. on the cut, cap and balance, so you agree with harry reid that this is a waste of time on a balanced budget. why would a balanced budget amendment when polls show 72% of those surveyed favor it, why would you be opposed to that, senator? >> i don't speak for leader reid, obviously, but what i think the leader was suggesting was that with ten days left until we default on america's mortgage, we should be focusing on things that have a very real chance of passage in both houses and that can avoid the catastrophic consequences of defaulting on america's debt. i think leader reid and many of us in the senate are concerned that if we simply keep ping-ponging back and forth
, again, big difficulties with the sydney s&p 200 by more than 1%. let's move over to europe. we're a touch into the hour on the trading day. a decent run-up on some of these markets in the course of last week, off by -- well, actually only a fraction of a percent now. it has been more than that, half a percent for the cac. in the united states markets clearly opened -- will be opening in less than five hours' time and we're looking to a lower start as well. off by 1%. certainly a little pessimism. maybe some optimism mixed in. we will, as hillary clinton says, see a deal in the course of day or the next day or two. >> yeah, it will be interesting to see how the european markets pan out as well and how it affects the u.s. futures. you know, this talk of possible default is actually sending some investors to safe havens like gold for example. hitting a record high of $1,617.30, now it's $1,617.30. the oil price pulling back just a tad over the back of what's going to happen to the u.s. economy and demand for crude. charles. >> hmm. now, if hillary clinton is right and a deal is ju
of them who have trouble hitting this will help their chances of repeating. this is big news, carlos beltran is one of the best hitters in the lead. >> we will have some more coverage later. new at 5:00 p.m. a naked man attack in san francisco and is caught on video. why the police say that this video is a hate crime. also a television news anchor was attacked live on air. we will show what caused the confrontation plus, there was a big room brawl. q. have owners x speaks out about the playboys passion or lack thereof and how the magazine mobile is fighting back all ahead. it's really delicious, mom. it's not too well done? nope. but it is a job well done. what are you reading, sweetie? her diary. when you're done, i'd love some feedback. sure. your mom and i read that thing cover-to-cover. loved it. thanks. would you mind if i cut the lawn this weekend? only if you let me talk to your mother on the phone for hours on end. done. [ male announcer ] u-verse brings peace to the family. at&t u-verse lets you record four shows at once from any room and play them back on any tv. get u-ver
currency including the euro, jach knees yen as well as the british euro. the big news out of australia today, well, basically the aussie dollar is near a 30-year high. since last year alone the aussie dlar has risen this much, 18.6% against the u.s. dollar. tony morris told cnn there will be winners and losers because of this. >> certainly going to make it more difficult for exports overseas, particularly manufacturing. will make it much harder for the retail sec tor to compete with cheaper goods from overseas. another direct impact, it makes it much more expensive for tourists to visit. those parts of our economy for the tourist sector, we're not going to benefit so greatly from that. the wig guest winners for this are the consumers. find it far cheaper to buy hopefully things on the shelves, for example. >> so the aussie dollar's record strength comes partly thanks to the debt ceiling deadlock in the u.s., but also linked with higher-than-expected inflation down under. australia's latest cpi reading came out today at .9%. many analysts were expecting .7%. because of this higher figur
for weeks and weeks and weeks over big proposals to cut $4 trillion in spending and remake the way america collects taxes. mr. boehner fell pressure from consumer lives -- boehner felt pressure from consumerconservats and walked away. he did get involved. now he is kind of out of the room and is a mere spectator, as you indicated. >> at the end of the day, it looks like the debt ceiling will be raised. it has happened three times during the obama administration. >> yes, this is a strange fight for american lawmakers. in the past, the debt ceiling was raised routinely on the backs of other pieces of legislation. the so-called tea party republicans, who were elected as the referendum against obama and the democrats', said they would never raise the debt ceiling. that's the problem mr. boehner is facing. they have had months to get their troops ready for this. they are close. there's only a handful of votes away -- they are only a handful of votes away. the people elected in 2010 were elected on the single platform of not raising the debt ceiling. it has been an uphill battle for mr. boehner.
be on the way? >> we had a day we didn't hit a hundred. we had big storms blow through especially anne arundel county. some went to ocean city where the detour was delayed because of the weather. we are at 78 and it feels like 84. we have the nasty heat index at this hour. many days into the heatwave, storms still around the eastern shore. watch the pivot-- watch these pivot around. i think we will have ourselves a partly cloudy morning. probably more clouds than we are showing. we will go to 9 # but there will be heavy downpours developing as well. how about traffic? >> reporter: we have no accidents reported. baltimore city or baltimore county. good way to start out the morning. let's look at the beltway. we have no incidents reported there either. this is 695 at wilkins avenue. very light traffic building in both directions. outer loop on the left a few cars but no incidents to report. we are dealing with construction on 95 northbound before 216. two left lanes are closed for repaving. we have a disabled vehicle # 95 northbound at harbor tunnel. northbound tube is closed also roadwork 295 n
of some instruments that could -- showing, you know, trouble in the lending market. >> the big question is, will washington let that happen, and right now that answer is not any clearer than it was yesterday morning. we begin with breaking news, though. this titanic struggle that's continued to go on right now to end the debt crisis before next tuesday's deadline. here's a live look at the capitol where overnight, infighting among republicans forced house speaker john boehner to yank his debt bill. they thought there was going to be a vote last night. there is hope he will try to pass it again today. in four hours the speaker will again sit down with fellow republicans and again try to entice just a handful of hardline conservatives to fall in line. >> the bill's not perfect. i never said it was perfect. nobody in my caucus believes it's perfect. but what this bill reflects is a sincere, honest effort to end this crisis in a bipartisan way to send it to the senate where it can receive action. >> now the speaker's bill would cut $900 billion from the budget over ten years in exchange for a
was try to create a new sense of urgency to see if there's a chance to put the big deal back together that he and speaker boehner were close to having this deal last week. but in many ways, this speech was almost oh post mortem, almost setting up the blame game for the fact that no big deal is going to happen. and no matter what happens here at the end of the day, the debt ceiling is going to go up. but nobody is going to be happy about the deal. i can tell you this, ann, i had a bunch of democrats that said to me, would have been a good speech to give two weeks ago. >> i know that he called for public activism, so much so that we hear the capitol hill websites were crashing last night because so many people were trying to e-mail their representatives. it looks like he spooked main street, jim? will he spook also wall street? >> no, not at all. wall street is calm. the markets are looking good today. we had a blip down in the indicators between 9:0 and about 9:20. they came right back. no one is buying the panic, the sky-rocketing interest rates scenario. >> that said, hedge funds are
for a lot more spending cuts later on. they are running out of room to cut. you will remember the big spending bill earlier this year cut tens of billions of dollars. so if you take a step back and you look at the entire forest there's a lot of spending cuts going on. lot of real spending cuts democrats are arguing that they are going to hurt a lot of people. so those certainly are accounting tricks. in terms of that last little margin to get to the point where they are cutting more than they are raising the debt ceiling which is what republican leaders wanted to do, they needed to rely on some creative use of cbo accounting methods. >> right. this is also interesting, though. even if he does get john boehner, that is, the house, even if he does get the conservatives to fall in lynn and go ahead and vote for this, there seems to be question about whether it will get out of the senate. have you 53 senators, two independents, included who said they are not going to support boehner's proposal. now we are looking at another proposal perhaps harry reid's proposal which the cbo also downgra
a big $22 billion social security payment august 3rd but recent tax revenues have come in $14 billion higher than expected. >> in other words the treasury on august 2nd stands to have more cash on hand than before and they'll be able to make the big social security payment august 3rd. >> reporter: at most that gives the government one more week. >> can they go up to the 11th hour? >> there's a big cost going to the 11th hour because you start to spook markets. >> reporter: former governor of michigan says in the rescue package in 2008 the dow plummeted nearly 800 points that day. >> boy, was it a disaster, so when you go last minute and you're basically saying you know, don't assume that we have responsible adults that has huge, huge costs we've seen it happen before. let's hope it doesn't happen now. >> reporter: while economists say the risk is remote, the risk of a new recession is very real. if america has to slash its spending to stay under the debt ceiling, the recovery could be over and quickly. anthony mason, cbs news, new york. >>> now to the massacre in norway. the confessed
point. that's not a big deal. a lot of that is tied to greece and not what's happening in washington, is it not? >> reporter: let's put this into perspective. broadly speaking you could say the following. if there is no deal on this debt problem by that deadline in early august, if there is no deal you will probably see the stock market retreat big time. if surprise surprise there is a deal, and the debt ceiling is raids and we borrow some more money and we don't default, you can expect stocks to go straight up. that's the situation we are in. what i'm saying is you are going to see an awful lot of up and down with your money hour by hour. that's the way this week is going to be. bill: stuart varney. u.s. secretary of state hillary clinton is saying she is sure a debt deal with be reached. >> i'm confident congress will do the right thing and secure a deal on the debt ceiling. and work with president obama to take the steps necessary to improve our long-term fiscal outlook. bill: no coincidence she made those comments in hong kong. can both side make a deal? senator ron johnson, a ne
backed bill included big spending cuts, a cap on spending and a constitutional amendment. >> it's a correct approach. this is fundamentally a spending problem. >> it passed in the house earlier this house. >> this vote the yeas are the 34. >> today majority leader harry reid grudgingly scheduled a senate vote. it failed just as he predicted. >> this is a very, very bad piece of legislation. >> today's vote could clear the way for one of several compromise deals. >> we all know mr. president there are talks going on between president obama and speaker boehner. >> this was a bit of hope yesterday when "the new york times" reported a possible deal between president obama and house speaker boehner. both sides quickly denied it. >> there is no deal. we are not close to a deal. >> there is no deal. no deal publicly, no deal privately. there is absolutely no deal. >> but he didn't say they're not talking about it. >> we've got to keep the lines of communication open. we talked about fall back options if in fact cut, cap and balance does go down. i do think that it's our obligation to h
mean they've got to pass something big and get it implemented quickly if we're not going to blow past that anyway. >> they really do. you heard secretary geithner yesterday saying that essentially we're running out of runway now and this is something that everyone has been dealing with for many, many months. what speaker boehner, according to one republican source, told gop lawmakers yesterday, is that they have to vote on some kind of a plan by wednesday and they have to post it on-line by today. so, you know, these are pretty tight deadlines that they're up against right now and last check, you know, they're still not close on a deal yet. nonetheless they have to get something done as he pointed out by wednesday to meet that august 2nd deadline. >> they don't have to be tight deadlines. >> never has to be tight deadlines. >> this is a crisis made in washington. >> as mark preston told me about half an hour ago, on the phone, he said guys, it's washington. that's -- >> this is how it always works. >> we'll be with you, talking many times. i have to tell you, grover norquist, the pres
no way, that they're not happy with what speaker boehner put forward for them? >> look, that is a big part of whatever takes place here, because they'rele really digging in. there's some house members who say no new taxes whatsoever, even on the wealthy americans, and the president saying that you need to get some kind of revenue here in order to make the system work for the long term health of the economy. that's very important. what can they come up with that can woo over those republicans who are being very clear about not wanting those taxes to go up. >> dan lothian, thank you. >>> all right. so the two plans on the table right, the democratic backed senator reid plan and the republican led plan from senator -- speaker boehner. let's begin with senator reid's blueprint, cuts $2.7 trillion over the next decade. a big piece is what senator reid calls the winding down of the wars in iraq and afghanistan. that will save $1 trillion. republicans have called that a gimmick, savings from wars that are winding down, even though by the way, the same savings were counted in some republican
of the midwest. >>> those power companies are asking people to conserve where they can. >> gregg: big question when can folks expect relief from this sticky heat. meteorologist maria molina in the extreme weather center? >> depending on where you live. in you live in the upper midwest or northeast you are expected to get relief. parts in the southern plains, oh man, texas and dallas, texas and triple-digits for days to come. parts in the southeast are not expecting any relief. northern parts, a cold front is going through the region but 95 in new york city. and it feels like 101 in new york. 106 is dallas, texas. so those dangerous levels of heat and humidity. there are a number of affected heat warnings out for those areas shaded in red also across portions of the midwest. that is where we could see heat index values up to 120 degrees. take a look at them from yesterday. 124 in wilmington, delaware and many other areas are looking at extremely high heat index values. throughout the great lakes it is going to produce some severe weather. as we head into tomorrow, it will look better but still
are big and bad. new video of a suspected serial groper and one city's search for the guy who can't keep his hands to himself. movement in the debt showdown as we speak. president obama meeting with democratic leaders harry reid and nancy pelosi receipt now at the white house and here is what we know. from the house speaker john boehner deciding not to announce the proposal tonight, but expected to introduce a bill tomorrow afternoon. earlier he made an exclusive appearance on fox news sunday and at that point he was hoping to have an announcement by 4 p.m. eastern today. >> we've got a spending problem. and i'm going to do everything i can to try to tackle this problem in as big a way as i can, because it's the right thing for the country. >> even if it causes heartburn in the g.o.p. caucus? >> it's about doing the right thing for our country. >> harris: another key player in the crisis speaking with chris wallace today. tim geithner explaining why president obama is against a short plan. >> we're trying to do something important, to avoid default today and-- >> you may end up with defa
as the big three, and command a 93% share of the market. they look at the books of businesses and countries and judge how able they are to pay back financial observations. in a complex internet -- international economy, this information is vital to investors. when the bretton woods system of monetary management fell apart in the 1970's, the role of ratings agencies became even more important. the u.s. government gave them the task of assuring financial reliability. the european union has also require banks to increase capital in line with risk exposure. that risk is measured by the ratings agencies. >> the influence of ratings agencies lies on the one hand in the way their evaluation system has been incorporated into legislation. on the other hand, many business contracts are tied to the marks of the ratings agencies. that means certain private investors will only invest if there is a certain rating. >> one such example is the insurance giant allianz, which relies on ratings agencies to invest huge amounts of capital. but that system historically failed on a massive scale and when the agenc
against dominique strauss-kahn. cnn has learned there is a big meeting this morning at the manhattan d.a.'s office. are the charges against the former imf chief about to be thrown out? >>> and the media demanding to know the identity of every juror in the casey anthony trial. the judge has to comply. why don't we have the names? >> can we get help here? how the guy got stuck head first in a sewer. 14 minutes past the hour. [ male announcer ] you have dreams for your children. don't let times like these stand in the way of them. protect your family with the gift of financial security. backed by the highest possible ratings for financial strength. new york life. the company you keep. backed by the highest possible ratings for financial strength. ...was it something big? ...or something small? ...something old? ...or something new? ...or maybe, just maybe... it's something you haven't seen yet. the 2nd generation of intel core processors. stunning visuals, intelligent performance. this is visibly smart. like new splenda® essentials™ no calorie sweeteners. this bowl of strawberries is l
. that has been cleared out of lanes. twa as big rig versus a motorcycle. now we have a couple closures. south bay, gilroy, 152, sig alert, bus accident. 152 is shut down between bloomfield and san filepi. they have detours in place. -- filipe. but southbound remains closed between the capital ex appraises pres way and 280. that is expected to be picked up by 5:30 this morning. detour in place there, as well. >>> it's 4:40. >> still ahead, mourning the nearly hundred victims in norway's twin attack. a judge makes a last decision on the court appearance of the suspect. >> and trouble in the skies, an american airlines flight burst into flames and heads back to dallas-fort worth airport.údúdúd >>> good morning, 4:42, look at the bay bridge, the mist in the background. believe me if you've been back east this looks so good. looks like apple pie with ice cream on top. >>> norway held a moment of silence for the 93 people killed at a youth camp and an explosion in oslo. meantime, a judge decided to hold the arraignment for the suspect in the twin attacks behind closed doors. he wanted an
nuclear power as the nation's next big power source. the plan comes as demands for energy grow and objections to nuclear energy grow with it. wit johnson reports. >> reporter: with u.s. energy demand expected to increase by 21% in the next two decades, nuclear power has been staging a quiet comeback. president obama has called for billions in loan guarantees to build new nuclear reactors. but past disasters, like fukushima japan, three-mile island, and chernobyl, have made americans fearful of nuclear energy. not one plant has gone online in the u.s. since 1996. >> that's basically a representation of the core. >> reporter: that's about to change. westinghouse ceo showed us the high-tech simulated control room for the ap 1000. >> the u.s. fleet right now is about twice as safe as required by law. the a pchl 1000 is 100 time safer. >> reporter: that claim will be put to the test when the very first goes online in china in two years. then by 2016 in georgia, two ap1000 reactors are scheduled to begin operation. >> no nuclear power plant is walk-away safe. i think it's really dece
could do that. >> wait until they have the ipad that's that big, you could stand in front of an ipad and kiss it too. i suppose. >> virtual. >>> we better go to weather. >> yes, we do. >> you were right, 93 didn't sound much better when we talked about it today. but it felt better. >> you don't think of waterspouts with pennsylvania, too often. this is erie county, pennsylvania, and this is bear beach just off bear beach, northwestern area of the state. it forms, a strong line of thunderstorms came through yesterday. and it dissipated before it came on to land. of course, around here what we saw was pockets of heavy rain and flash flooding yesterday. our high temperature today 95 degrees after starting out at 76, boy, that sure was nice. the average high 89 degrees, over the next couple days, temperatures are still going to remain above the average high. today, though, the nicest since july 17th, when the humidity was way down too. all that ugly heat, the monster heat is going to return. at the end of the workweek, by week's end. and it's going to stick around for a day or two. 93
office right now. we are told -- i do not -- at this time, expect any big statement oust white house or any big announcement. as we've seen these last few days anything can change at any moment. so i will keep you posted if it does, don. >> i think it's going to be a long evening for all of us. because if they come out and say something, of course, we'll bring it to you right here on cnn. and, listen, we have to say this, jessica, before we move on. the president and the leaders in washington said they wanted to get this fixed or at least some sort of agreement in the works before the asian and european markets opened tomorrow, and that's just in a few hours. >> reporter: that is correct. and, you know, as i sit there making calls trying to find out exactly what movement is happening in washington i'm also checking the s&p futures and the markets around the world, because there's already a lot of people in this town worried and seeing how things are moving. there is a lot of anxiety that the markets are already reacting, because this has a ripple effect on every american, and one thi
money than you're taking in, you need to spend less of it. there's no symptom of big government more menacing than our debt. break its grip, and we begin to liberate our economy and our future. bill: we've been talking about this issue for months, and we are down to that critical time. good morning, everybody, i'm bill hemmer. and a big welcome to jamie colby. jamie: you think we'll make it before august 2nd? how you feeling? bill: we'll see. jamie: we'll know more after the next two hours. absolutely. great to have you all here. harry reid and speaker boehner both have their own plans, presenting their own debt deals last night. boehner's plan cuts $3 trillion over the next ten years raising the debt limit by more than $2.5 trillion, and guess what? no tax hikes. bill: reid's plan includes more than $2.5 trillion in cuts over ten years raising the debt limit by $2.4 trillion and, also, no tax hikes. or as they like to call them in washington these days, revenue. stuart varney of fox business, good morning, my friend. how you doing? you're a financial man, what was your takeaway from
where the big mining states of western australia and the northern territory are booming ahead and it's been described as a scenario that's been akin to the gold rush of the 18 50's, but here on the east coast in new south wales and queensland, times are very tough economically. retail sales are down -- >> peter, i'm so sorry but i have to stop you there. we're out of time. thank you very much for joining us from sydney. now to the u.k. where there are further allegations in the phone hacking scandal which has rocked the murdoch media empire. police have told the mother of a child that she was on the list of people whose phone may have been hacked. notes of her phone number was on an investigate's notes. the bbc's report. >> perhaps it seemed this astonishing affair no longer had the reputation to shock. but the mother who worked alongside the news of the world alongside its former editor was all along one of its victims. sarah payne's charity was contacted last night to be told her details were in the notebooks of the phone hacker. it says "we are all deeply disappointed and we are j
fill the vacuum? >> these are big losses for our country, but there are many other figures that are serving this country. we have replaced many in the past, as well. unfortunately, this is another sacrifice, but we will continue to sacrifice and we will also defeat them. our forces will be more trade in the future to spoil these kinds of attacks. >> thank you very much. this happened at an important time in afghanistan during the transition to afghan security forces taking place in kandahar. it is picking up pace. >> thank you very much. still to come on gmt -- the countdown begins. >> with just one year until the opening ceremony of the london 2012 the olympic games, we will be speaking to not one but two olympic gold medalists. >> catholics in the vatican say ireland's prime minister was right to speak out about the child sex abuse scandal. criticism of the church's role in covering up sex abuse. >> the vatican is preparing an official reply to outspoken criticism of the church's handling of the sex abuse allegations as recently as 2009 a new irish government report. the
of higher than expected receipts, but they're going to have a couple big social security payments and interest payments due, so it's not entirely clear to the markets or to anybody else when treasury will exhaust its reserves. >> annie lowery, economic and business reporter for slate. >>> well, joining me from the hill now illinois republican congressman robert dold who serves on the financial services committee. representative dold, thanks for being here this morning. it's a busy day. >> thanks for having me. i appreciate it. >> i know, sir, that you supported john boehner's plan, but you say you would have voted for it without a budget balanced amendment. why are some of your colleagues saying they need that fully knowing it would not pass the senate? >> the number of my colleagues booef e plea of we have to change the way washington is working, so we've been grossly overspending for a long period of time. it's been happening on both sides of the aisle. it's a clear washington problem. american families have tightened their belt. american businesses have done the same. they shou
son would have killed himself rather than slaughter dozens of people. >>> bp has a big turnaround. the company raked in more than $22 billion in profits for the quarter! >>> the debt, minute-by-minute, the nation inches closer to the brink of twault. the countdown less than seven full days before the federal government runs out of money and unable to pay its bills. in washington a stark message is delivered between the president and the speaker of the house. their parties are desperately divided and you and i are about to pay the price. we are covering all of the angles from wall street to the white house. ali velshi getting really creative and looking at the cost americans could face even before time officially runs out. of course, dan lothian with the politics and the posturing. ali, let's start with you. the markets open this hour, okay? how is the debt issue going to impact things today and the rest of the week? i know yesterday, you kept saying give me a little more time and i'll let you know when to worry but how many times can we say that? we are not worried yet. we are wat
's family called him a big bear, killed while trying to save his friends. some of the victims were immigrants or children of immigrants, people hated so much by the killer, 32-year-old anders breivik. he used bullets to explode inside the body. they said they had never seen so much destruction. survivors are traumatized. >> i knew it was over. i knew this was, i'm going to die now. >> reporter: adrian, 21 years old. >> screamed out that he was going to kill us all that this was the day that we must dionne. >> reporter: adrian was shot in the neck and shoulder. he played dead. and anders breivik moved on. most of the teenagers had cell phones and called home. anguished parents called the police, and some texted their children throughout the ordeal. the first message from judy, 16 years old, mummy, tell the police to come quick. people are dying here. her mother couldn't leave the kitchen table. she answered, the police know. they've had many calls. give a sign of life every five minutes. julie, we are in fear of our lives. mother, i understand. stay hidden. as minutes dragged by and
Search Results 0 to 49 of about 76 (some duplicates have been removed)